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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 27


Global CFI has added $0.15/t in early July due to another increase in sea-river freight rates in the Azov Sea ($2.4/t up), as well as amid slightly higher rates for about 3-4,000 dwt vessels in the Black Sea ($0.2/t up). The Far Eastern freight rates have added $0.18/t this week. However, the increase in Global CFI has been partially offset by lower freight rates in Northern Europe (the Gulf of Finland CFI has dropped by $0.24/t, the Lower Baltic CFI by $0.06/t, the Continent CFI by $0.08/t).

The ISM Commodity Index has held relatively steady for the third consecutive week; it has just showed a rise of 0.4 points in early July. Owners are now putting hopes only on the grain season, as demand for Black Sea wheat and barley is strengthening, and export prices for above cargoes are growing too. At the same time, buyers from North African and European countries show sluggish interest in semi-finished and finished steel products. The same applies to demand for steel scrap in Turkey. It is worth noting, however, that local buyers have purchased several lots of scrap to be shipped from the ports of the Azov-Black Sea basin.

Global Coaster Freight Index

CFI is the weighted average of voyage freight rates assessments on main trade routes for grain, steel, scrap, pig iron, coal, fertilizers, minerals and construction cargoes.
List of rates includes those for shipments of above mentioned commodities in 3,000-10,000 t lots.

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